not rely on the “smooth-pasting condition.” An application to MacDonald and Siegel’s canonical investment problem (1986 …) shows that the standard investment threshold over-estimates the optimal threshold when the lower barrier is absorbing and …

The paper studies the interaction between cyclical uncertainty and investment in a stochastic real option framework … of the link between cyclical uncertainty and investment is quantified using simulations of the model. The chief …

This paper investigates the effects of uncertainty on the investment behaviour using firm-level data for a sample of … Belgian manufacturing firms. In general, the results confirm former analysis at the aggregate level, stating that uncertainty … defined. It is shown that uncertainty has mainly an impact on the decision to invest and to a much lesser extent on the amount …

Recent theoretical developments relating to investment under uncertainty have highlighted the importance of … empirical literature which examines uncertainty and threshold effects of investment behaviour. This paper presents a review of … investment, the majority focusing on the relationship between investment flows and proxy measures of uncertainty. A general …

We estimate the effect of demand and price uncertainty on firms' investment decisions from a panel of manufacturing … investment, while price uncertainty is insignificant. This is consistent with the behavior of monopolistic firms with … firms. Uncertainty measures are derived from firms' subjective qualitative expectations. They are close to their theoretical …

The paper studies the interaction between cyclical uncertainty and investment in a stochastic real option framework … of the link between cyclical uncertainty and investment is quantified using simulations of the model. The chief …

Recent theoretical developments relating to investment under uncertainty have highlighted the importance of … empirical literature which examines uncertainty and threshold effects of investment behaviour. This paper presents a review of … investment, the majority focusing on the relationship between investment flows and proxy measures of uncertainty. A general …

This paper investigates the effects of uncertainty on the investment behaviour using firm-level data for a sample of … Belgian manufacturing firms. In general, the results confirm former analysis at the aggregate level, stating that uncertainty … defined. It is shown that uncertainty has mainly an impact on the decision to invest and to a much lesser extent on the amount …

We estimate the effect of demand and price uncertainty on firms' investment decisions from a panel of manufacturing … investment, while price uncertainty is insignificant. This is consistent with the behavior of monopolistic firms with … firms. Uncertainty measures are derived from firms' subjective qualitative expectations. They are close to their theoretical …

Recent theoretical developments relating to investment under uncertainty have highlighted the importance of … empirical literature which examines uncertainty and threshold effects of investment behaviour. This paper presents a review of … investment, the majority focusing on the relationship between investment flows and proxy measures of uncertainty. A general …